Blackstone has appointed the former group chief technology officer and chief innovation officer of Barclays as its new CTO.
John Stecher will be joining the group from 24 February, taking over from Bill Murphy, who has led Blackstone’s technology platform for the last eight years.
Mr Murphy will continue to serve as a senior adviser to the firm as well as serve on the boards of various Blackstone portfolio companies.
Mr Stecher will be held responsible for leading Blackstone’s global technology organization and advising the firm’s investing teams and portfolio companies on technology-related matters.
Michael Chae, CFO of Blackstone, said technology and innovation is a strategic priority for the firm.
Mr Stecher added: “Blackstone has invested significantly in technology to better run its business and serve investors while leveraging that expertise to inform its investing teams.
“The scale and breadth of the platform offers a unique opportunity, and I look forward to working with the talented professionals across the firm to take Blackstone’s technology teams and innovation agenda to the next level.”
During his time at Barclays, Mr Stecher was also a member of the firm’s technology management committee. He was responsible for leading a global team of technology and product experts across all business units and setting the firm’s innovation strategy.
Prior to Barclays, he spent more than seven years at Goldman Sachs in a variety of senior technology and engineering roles across the firm’s capital markets, technology and consumer finance divisions.
Before Goldman Sachs, Mr Stecher began his career at IBM working across a number of senior technology positions. He was reported to be an IBM Master Inventor with more than 45 patents granted.
Jon Gray, Blackstone president and chief operating officer, said technological innovation is a key driver of the company’s success.
“John’s extensive experience and engineering expertise will expand our leadership position in this critical area for our firm and portfolio companies,” Mr Gray said.
“John will build on the considerable accomplishments of our technology teams and Bill Murphy, who did an outstanding job for Blackstone.”
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
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